TIAA CREF Investment Management LLC increased its holdings in shares of Texas Instruments Incorporated (NASDAQ:TXN) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,433,484 shares of the semiconductor company’s stock after buying an additional 332,653 shares during the quarter. TIAA CREF Investment Management LLC owned 0.45% of Texas Instruments worth $341,068,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. American Beacon Advisors Inc. acquired a new position in Texas Instruments in the 1st quarter worth about $101,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Texas Instruments by 18.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,287 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 200 shares in the last quarter. MV Capital Management Inc. increased its holdings in Texas Instruments by 7.6% in the 2nd quarter. MV Capital Management Inc. now owns 1,324 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 93 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in Texas Instruments by 8.4% in the 1st quarter. ClariVest Asset Management LLC now owns 1,296 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 100 shares in the last quarter. Finally, Balentine LLC increased its holdings in Texas Instruments by 6.5% in the 1st quarter. Balentine LLC now owns 1,320 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
In related news, Director Carrie Smith Cox sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.25, for a total value of $1,151,500.00. Following the sale, the director now owns 38,435 shares in the company, valued at approximately $3,161,278.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Sanchez sold 26,905 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $81.48, for a total value of $2,192,219.40. Following the completion of the sale, the director now owns 27,565 shares in the company, valued at approximately $2,245,996.20. The disclosure for this sale can be found here. Insiders sold a total of 211,301 shares of company stock worth $17,259,256 in the last 90 days. 0.96% of the stock is currently owned by company insiders.
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Texas Instruments Incorporated (NASDAQ TXN) opened at 92.38 on Wednesday. The stock has a 50 day moving average price of $85.41 and a 200-day moving average price of $81.68. The company has a market cap of $91.46 billion, a price-to-earnings ratio of 23.11 and a beta of 1.24. Texas Instruments Incorporated has a 12-month low of $66.80 and a 12-month high of $92.41.
Texas Instruments (NASDAQ:TXN) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.57 billion. Texas Instruments had a return on equity of 36.52% and a net margin of 28.68%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. On average, analysts predict that Texas Instruments Incorporated will post $4.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $2.48 annualized dividend and a dividend yield of 2.68%. This is an increase from Texas Instruments’s previous quarterly dividend of $0.50. Texas Instruments’s dividend payout ratio is presently 50.51%.
Texas Instruments announced that its board has authorized a stock repurchase program on Thursday, September 21st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 74% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts have issued reports on the company. B. Riley reaffirmed a “neutral” rating and issued a $89.00 target price on shares of Texas Instruments in a report on Monday, July 31st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 target price on shares of Texas Instruments in a report on Wednesday, October 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Texas Instruments in a report on Tuesday, September 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $96.00 target price on shares of Texas Instruments in a report on Monday, September 25th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $86.00 target price (up previously from $84.00) on shares of Texas Instruments in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $86.51.
Texas Instruments Profile
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. As of December 31, 2016, the Company had design, manufacturing or sales operations in more than 30 countries.
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